What you need to know before the US open
As things escalate in Ukraine and Russia, US equities look set for a weaker start in March.
European markets have suffered some sharp losses this morning, and it’s likely the S&P 500 will follow suit.
Stock futures have tumbled, along with other risk assets – the mobilisation of Ukrainian troops has seen investors rush to safe-havens.
The gold price has soared to a four-month high and oil, gas and crop prices have jumped.
When it comes to currencies, the US and Australian dollars have fallen, while the yen and Swiss franc have gained on the situation.
Demand for government debt is growing, with Treasuries up in early trading.
The ISM’s February survey of US manufacturing activity will add to the data just out from Markit.
Markit's purchasing managers' index came in at an encouraging 57.1 for February, after forecasts of 56.6 and 53.7 in January.
Corporate data
Data in focus
- 3.00pm: US Jan construction spending
- 3.00pm: US Feb ISM manufacturing